Fed's Fisher Says Unemployment Rate Still Not Good Enough

U.S. Economic Growth Just 'Modest to Moderate'

COLLEGE STATION, Texas—Federal Reserve Bank of Dallas President Richard Fisher said U.S. economic growth is "modest to moderate," but structural economic problems linger despite a stock-market rally.

While third-quarter gross domestic product growth of 3.6% reported Thursday was a "pretty good clip," much of that growth was driven by inventory buildup, said Mr. Fisher, in a speech hosted by the Dallas Fed at the...